Why are these NFTs worth MILLIONS, but your NFT is WORTHLESS?

how to invest on NFT
Captured from Opensea

It probably comes to your head that after you spent 96 hours creating, minting, promoting, and waiting, isn’t it?

Believe me — you are not alone.

Even some people think that the Non-Fungible Token or NFT concept is patently ridiculous after failing to sell their NFT.

So, what is the secret behind all of those valuable NFTs?

Of course, you do want to know — but first, we have to unravel why NFT is even valuable.

I found several reasons people want to spend their money and invest in NFT. Besides exclusive ownership of an “art,” following the stream of the newest trend, high market demand, peer pressures, there is another emotional value, like pride. Not every NFT owner has the luxury to have that feeling because it only happen when they have a valuable asset.

invest nft
The new way of investment— Photo by Austin Distel on Unsplash

The concept of investing is not a novice. People already do it on other items like gold, property, fine art, or stocks — and now the new generation of them are cryptocurrency and NFT.

It makes sense that people started to see the opportunity because almost everything can be done solely on the internet. Furthermore, the pandemic indeed has an immense role in that realization, proven by the explosion of people diving into the NFT world in 2021.

The simple point why NFT is valuable is because people see its bright future.

However…

Which NFT is valuable and which is not… is more complicated. It takes time to learn for sure, but it’s worth it.

Embrace yourself because we will discuss three young NFT millionaire cases — how they turned from nobody to NFT stars and the recipe to follow their steps.

Benyamin Ahmed

How to invest on NFT
Benyamin Ahmed — Photo from TS

His name skyrocketed back in 2021 in NFT news — even now, people are still talking about him. Benyamin is 12 years old boy who lives in North London with his brother and parents. His father, Imran — is a programmer who has taught Benyamin coding since he was five years old.

Benyamin was mesmerized by NFT a year ago and started to learn how to join in the hype. He created and coded his first NFT collection of 40 pixelized avatars called Minecraft Yee Haa. However, it didn’t succeed — nobody bought the collection. “It’s okay,” he said. He learned from his mistake and moved on.

He tried again a few moments later by coding a 3,350 pixelated Weird Whales collection with each unique feature. He minted his collection on Opensea, which cost $300 for the entire project. BOOM! Hours later, he sold his first whale collection for around $110,000 — what a profit!

Now Benyamin holds a $1.1 million net worth in just almost a year.

Sultan Gustaf Al Ghozali

How to invest on NFT
Gozhali — Photo from ayosemarang.com

He is well-known as Gozhali Ghozallu, a 22-year-old man from Indonesia who studies computer science at one of the universities in Semarang. In 2017, Gozhali started to take selfies every day for his project of making a time-lapse video. He would pose expressionless in front of a camera and capture it.

In the late December of 2021, he thought it would be funny if, instead of making a time-lapse video, he minted his selfies collection in the NFT marketplace. He listed 933 selfies that he called “Ghozali Everyday” on Opensea for only 0.00001 Eth, which equaled $3 each.

Days later, Ghozali Everyday has attracted an Indonesian celebrity chef, Arnold Poernomo. The chef bought a few collections of selfies and promoted them on his social media. Since then, his selfies began to sold-out one by one.

Due to its popularity, the piece’s floor price increased to a minimum of 0.08 Eth or around $269. He earned over 397 Eth traded volume for his NFT collection, which turned him into a millionaire in just a few months.

Nyla Hayes

Nyla Hayes — Photo from POCIT

Since she was four years old, Nyla Hayes had already started to learn drawing. Becoming an artist is her passion, so her parents gifted her a smartphone when she was nine, and her journey began as a digital artist. Using her new device, she likes to draw people with long necks that she called Long Neckies. Her art pieces resemble her favorite dinosaur — brontosaurus, she explained.

Three years later — in March 2021, Nyla’s uncle talked about NFT to Nyla’s mother. He saw the potential of Nyla’s art and suggested minting them as crypto art. So, they started to learn all about NFT from YouTube, and when they were finally ready, they minted all of Nyla’s collections of 3,333 women with long necks and named them Long Neckie Ladies.

Not long after it launched on Opensea, Long Neckie Ladies gathered so much attention — it was able to gain more than 960 Eth or around $3.4 million.

In July 2021, she signed a contract with Time Magazine for TIMEPieces as one of Time’s Artists in Residence. Nyla created 1000 unique pieces for them with a theme of TIME’s Women of the Year franchise that launched in Opensea. Her journey is not over yet — she also has signed a contract with CAA this March, and probably many more would reach her as a brand representative.

Who doesn’t want to be like them?

These three young NFT millionaires intrigued me to write this article. Their “art pieces” minted on the marketplace are not hard to do. Dare I say — their arts don’t even use complex techniques. Every artist can draw Weird Whales or Long Neckie Ladies collections. Moreover, I don’t even think I need to mention about selfies tutorial.

The fact that they were not a professional artist or roughly a “nobody” before but managed to make their art a valuable NFT raises a lot of questions. What is their trick? Was it only just a piece of luck?

or…

How to make your NFT as valuable as their NFT?

That is the bold line question here. Don’t worry — scroll down and keep reading. You will eventually understand in the end.

Do your research about marketplaces

How to invest on NFT
Photo by Quantitatives on Unsplash

It seems like a cliché suggestion, but this is essential for the starter. There are many NFT marketplaces that you can use for minting your art, such as Opensea, Rarible, Larvalabs, etc. Those marketplaces have their own advantages and disadvantages. You can read it here before deciding which marketplace is good for you.

From the three cases of impromptu millionaires above, all of them minted their art pieces on Opensea. As far as I know, Opensea indeed offers convenience for an NFT newbie. Their gas fee is low, about 2.5%. Besides that, the platform is most popular among the NFT community, which means you can reach more buyers there, which also means more competitors.

However, you should not limit your choice only to Opensea. Don’t make the early assumption that this is the only platform that will bring profit for you. Considering many success stories also happened on different marketplaces, such as Amrit Pal Singh on Foundation, Jaiden Stipp on SuperRare, or the famous Victor Langlois, aka FEWOCiOUS on Nifty Gateway. You just have to find the right place that tunes with your art.

The value you bring to the table is important

If you are Billie Eilish and you decided to sell your picture as an NFT, people would bid on that in just a minute. But who are you? Even if you can create beautiful art, people would not want to bet their money on that. Billie has her value — Duh! She doesn’t have to pitch too much to make people come. People already know Billie, and the item you bought from her would be worth a trillion bucks in the future.

Billie Eilish — Photo from npr

Remember this, NFT has no intrinsic value. You are the person who is responsible for creating value for them.

In his book Contagious, Jonah Berger described six steps to make your content, product, or idea worthy enough to be on everyone’s lips. The top two steps are social currency and triggers.

Social currency in his book refers to the fact that people often share things that make them look good to others, so to utilize that, you need to mint a social currency to make someone feels valuable by delivering the message. While triggers mean creating new stimuli by linking your products or ideas to prevalent environmental cues.

In Gozhali’s case, he shared his selfies with a description of “everyday selfies since 2014.” Whether he realized it or not — he was giving value to his selfies that attracting the celebrity chef to buy and share them with his followers.

If it’s still unclear, the value that Gozhali has is the way he took expressionless selfies and that his “art” stands out from the rest of the NFT marketplace. That is enough to make people think they will feel valuable by sharing the news.

How to invest on NFT
Stand out! — Photo by Veronica Benavides on Unsplash

As well as Nyla and Benyamin. Considering that they were just 12 years old already gave value to their NFT. Which one do you think people would prefer to share? — “a 30-year-old coder minted his artwork in Opensea” or “a 12-year-old coder minted his/ her artwork in Opensea.”

In addition, Nyla’s art also promotes diversity and women’s characteristics. It brings value automatically because it rhymes with social concerns and nowadays trends.

The three of them also used the second step from Berger’s book; triggers. If we talk about NFT, we frequently hear the word “collection” side by side. All the three young millionaires also minted their art in a collection, not individually. By that logic, people would most likely buy their art to collect them all since that is the point of NFT.

Thus, to succeed, you have to know the inner remarkability of your art and show its value — give the reason for people to buy and share it. Also, selling your art in a collection obviously adds more value. So, don’t just sell a piece — give it a story, a real meaning that makes your art related to each other.

NFT is about community

How to invest on NFT
Community helps — Photo by Jonny Gios on Unsplash

Benyamin openly mentioned the other reason he managed to sell the Weird Whales collection in one of his interviews. He met a mentor on Discord that helped him code and join the community. After minted his collection, he posted a thread on Twitter and gained recognition there. He emphasized that NFT collections performing well usually have a strong community behind them that will support them.

Yes, the community is the drive of NFT to work and can be spread widely. Don’t mix NFT artwork the same as selling art traditionally. If you are a freelance artist, you usually build your portfolio by showing that your art is beautiful, detailed, and good enough, making people want to buy it for their pleasure and usually for decoration.

The difference with NFT art, you mostly buy it for investment. I don’t say that you shouldn’t try hard to create your NFT art — but you need to prioritize more on building a connection with the community that wants to support you, whether by buying it or sharing it.

You should start by joining an NFT community that is beneficial for your inspiration and promotion. You will be surprised how valuable forums like Reddit and Quora are for giving you insider advice — from there, you can explore and maybe get a link to a good NFT community on Twitter, Discord, or other platforms. But remember, always be respectful and give back what you get! That is the key to that community.

And last but not least…

Sometimes luck plays the role here

Yes, it will hurt if we bought 1000 lottery tickets but then lost from a person who just bought one. We call that luck on their side.

These three young millionaires can be seen as luck cases. I mean, the possibility of a celebrity noticing your post is like finding a needle in a haystack. Or from thousands of NFT assets on the marketplaces, the Weird Whales and Long Neckie Ladies get more recognition than the others — that is also luck.

But don’t be sad because you can create your own luck!

How to invest NFT
Create your own luck — Photo by Jakob Cotton on Unsplash

You might not believe it, but those three cases also create their fortune by having the bravery and bold intention to mint their art on the platform. If Gozhali hesitated to mint his selfies as NFT, if Benyamin didn’t learn to code, or Nyla didn’t even learn to draw digitally, nobody will write about them until this day.

So, you just have to create and have the guts to share it. If it fails, you try again until you earn your own luck.

Good luck!

Do you know that when you help others, the good thing will come to you in a different way?

Share this article to help others understand more about the NFT strategy. Claps and follow if you think this article helps you and want to see more articles like this in the future.

Thank you, and have a good day!

--

--

--

A writer who will serve you with many articles related to art. Feel free to contact me :)

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Confessions of a crypto skeptic (who is now starting a web3 payments company)

Fuji is a place where investors and start-uppers can meet and make life-changing decisions.

24 Hours to Go: Details for SCLP IBO 27th October on MahaStarter

Centaurus — Shaping up the cross-Chain future of NFTs & DEX

About mods

Interview With Olaf Hannemann, Co-Founder & CIO of CV VC

[Delio] Bitcoin Is on Track to See a Significant Bounce, deVere Group CEO Stated

BITSFINANCE AMA RECAP

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Aulia Anne

Aulia Anne

A writer who will serve you with many articles related to art. Feel free to contact me :)

More from Medium

Can NFTs rule the world?

Why it is very Difficult To sell Nfts

NFT Project Otaku Origins Sets a Platform That Takes Real-Life Otakus Into a Unique, Isekai-Esque…

Pop Booty NFT